The impact of patient capital on job quality, investments and firm performance. Cross-country evidence on long-term finance

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Long-term finance is crucial for development but scarce in low-income countries, limiting growth and job quality. This paper analyzes data from over 17,000 firms in 73 countries, revealing that long-term finance leads to more permanent employees, increased training, and higher investment in fixed assets. Longer loan maturities significantly enhance job quality.